With the new agreement, the automakers will work together to develop a fundamental fuel-cell vehicle system, including a fuel cell stack, hydrogen tank, motor and battery. The automakers hope to have the project completed by 2020, with a prototype as early as 2015. Also part of the plan, Toyota and BMW will attempt to streamline hydrogen refueling infrastructure codes and standards. Future Toyota and BMW hybrids may use a lithium-air battery – development of which is one element in the four-part collaborative effort.

The “mid-size sports vehicle” would be just the first to benefit from BMW-Toyota research into lightweight technologies for vehicle bodies, including reinforced composites. While the lightweight rear-drive Toyota GT86/Scion FR-S/Subaru BRZ triplets were a joint project between Toyota and Subaru, some speculate that the new BMW-Toyota midsize sports car could yield a new Supra. Expect to see a concept giving us an idea of what to expect from the platform by the end of 2013.

For the sports car platform, Toyota will help by sharing its knowledge on environmentally friendly, hybrid, and fuel-cell technology while BMW likely contributing its expertise engineering “highly dynamic” vehicles.

The collaboration builds on previous agreements such as a December 2011 deal to work together on lithium-ion battery development for hybrid and PHEVs, which included a provision for BMW to supply Toyota 1.6-liter and 2.0-liter four-cylinder diesel engines for Euro-market cars beginning in 2014. As for the midsize sports vehicle, we’ll be seeing and hearing more on that enticing project before the end of this year.